Working in the international business arena I often find clients confused about these two strategies when it comes to write a business plan.\u00a0Is it the same thing to develop a market entry strategy than a marketing strategy? What comes first? Besides creating a heated debating environment, to differentiate them is actually a very important part for any business pursuing international expansion.<\/p>\n
One similarity is that both strategies are complimentary and the information transfers easily from one to the other. Likewise, these strategies are key elements of a comprehensive business plan. This is the reason why it easy to get confused and think that both strategies are the same thing.<\/p>\n
So what does the market entry strategy focus on? There are numerous ways to enter a prospective market, for instance, a company could export directly or sell to a distributor, it might choose to form a join venture with a local company or even hire a specialized agent in the industry. All of these forms could be right or wrong; it solely depends on your product \/ service and the dynamics of the target market. This is why I can\u2019t overstress the importance having a thorough market research before you develop your strategy.<\/p>\n
On the other hand, a marketing strategy outlines the best way to introduce your products into a new market to create a competitive advantage and increase your sales. It focuses more on defining who you target customer is and what is your marketing mix (product, price, place and promotion).<\/p>\n
As you can see, both strategies go hand in hand and I recommend creating a marketing plan to sketch out the roadmap to achieve your business goals.<\/p>\n","protected":false},"excerpt":{"rendered":"
Working in the international business arena I often find clients confused about these two strategies when it comes to write a business plan. Is it the same thing to develop a market entry strategy than a marketing strategy? What comes first? Besides creating a heated debating environment, to differentiate them is actually a very important part for any business pursuing international expansion.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[349,347],"tags":[],"class_list":["post-886","post","type-post","status-publish","format-standard","category-immigrating-to-canada","category-investors","entry"],"yoast_head":"\n